A former state Senator's involvement in two presidential campaigns may lead to a much broader federal investigation, according to experts in federal law enforcement who said Kent Sorenson's guilty plea Wednesday may be the tip of the iceberg.

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It's a case making national headlines, which sources say may lead to a broader federal investigation into presidential politics and the Iowa Caucuses.

Former state Senator Kent Sorenson plead guilty to obstruction of justice and causing a federal campaign committee to falsely report expenditures.

Court documents show while he ran Michele Bachmann's campaign in Iowa then he switched his support to Ron Paul in exchange for concealed payments of $8,000 per month totaling at least $73,000.

"It's sad, unfortunate but an important reminder we have rules for a reason. We have to be accountable whether it's politics or everyday lives," said Eric Woolson, Bachmann's former campaign manager in Iowa.

A spokesman for the Ron Paul campaign told KCCI, "Those who worked on the Iowa campaign knew nothing about this. It was going on behind the scenes with national headquarters. This is unfortunate for the state, the political process and presidential campaigns. It is a sad day."

Sorenson's sentencing hearing is not yet set.

A source experienced in federal law enforcement told KCCI, "This is the first shoe to fall. It appears Sorenson is cooperating and will testify against others in an investigation into the Ron Paul organization and how they moved money."

KCCI political analyst Dennis Goldford said the outcome could impact Rand Paul.

"It won't help, certainly won't help any candidate for office wants to stay far away from any kind of illegalities," said Goldford.

Goldford said the case should not leave a black eye on the Iowa Caucuses.

"This would simply be a sorry footnote in history of Caucuses," said Goldford.

Sorenson's attorney F. Montgomery Brown sent a statement to KCCI, reading "to the extent it is being reported that Mr. Sorenson has plead guilty to accepting a bribe or otherwise accepted a bribe, both are factually and legally erroneous."